[mhays]

Yeah, they overstepped on this one. What works with apartments (>95% of the completed new greater-Downtown inventory in this decade) doesn't work the same with condos. Condo buyers tend to be older and richer, and are more likely to have cars.

They went aggressive with unit count on a pretty small and odd-shaped site of 8,365 square feet. My guesstimate is that a more traditional ratio like 0.7 spaces per unit would have meant going absurdly deep at massive cost PLUS a mechanical system. More realistically the option was a much shorter tower with fewer units. So they went big on units and might have to sell them for a little under what they expected.

Meanwhile I'm glad we we don't mandate this stuff...would hate to live in a city where a condo buyer is REQUIRED to buy a parking space. In fact I had to buy one with mine a decade ago.